EquityPandit’s Outlook for Sun Pharma for the week (April 22,2019 – April 26,2019):
Sun Pharmaceutical Industries Ltd.
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the week on negative note loosing -1.98%
Week High: 471.45
Week Low: 458.45
Week Range: 13.00 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for SUNPHARMA at 457-455 levels, whereas minor resistance on the upside is capped around 475- 478 levels.
If stock breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 447-450, if stock breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 485- 487
Currently trend for the stock is bearish as stock trading below 200 days exponential moving average.
EquityPandit predicts SUNPHARMA range for the week is seen from 485- 487 on upside & 447- 450 on downside.